The original post: /r/cryptocurrency by /u/Two_Pickachu_One_Cup on 2024-12-08 02:27:47.
Litecoin has made good gains so far this bull cycle. If you are thinking of investing in Litecoin here are a few useful upsides that people may not know about.
- Litecoin is merge mined with Dogecoin.
Wayback when, Dogecoin was on the verge of extinction until an offer was made by the Litecoin mining community (loosely) to merge mine with Dogecoin. Dogecoin would not exist without Litecoin.
- Litecoin has "optional privacy".
Litecoin has an opt in privacy feature called MWEB. The rationale behind the "opt in" feature is so that Litecoin can still comply with privacy regulations and remain listed on exchanges, whilst not as useful as a full "mandatory" privacy feature its still handy to know.
- Litecoin is an OG fork of Bitcoin with 100 percent uptime.
Not many people know that Litecoin is one of the only OG cryptocurrencies with 100 percent uptime. Not even bitcoin can claim 100 percent uptime. The network is reliable, decently fast (not the fastest) and has minimal transaction fees.
- As an OG cryptocurrency it has the potential for EFT approval.
Some argue that Litecoin is close to EFT approval due to its OG status, reliability and potential upside.
- Litecoin has no founder stash
This point is controversial. The creator of Litecoin sold his stash a while back which drew some criticism from the community. Whilst it did draw its criticism, the upside to this is that Litecoin may not fall foul of any heavy regulations as you could call it truley decentralised. The founder of ETH still has a massive founders stack.
Litecoins is no doubt a great fundamental coin, its price action has been a little lacklustre over the years but it could be a sleeper if markets start to price fundamentals into the base price. Thanks for reading :)